Title: Establishes a Refundable Income Tax Credit for Firearm Safety Devices
Vote to pass a bill that establishes a refundable income tax credit for taxable years 2023 through 2027 for individuals who purchase one or more firearm safety devices.
Establishes firearm safety device tax credit (Sec. 1).
Specifies that “For taxable years beginning on and after January 1, 2023, but before January 1, 2028, a taxpayer shall be allowed a refundable credit against the tax levied pursuant to §58.1-320 for up to $300 for the cost incurred in the purchase of one or more firearm safety devices in an eligible transaction” (Sec. 1).
Title: Establishes a Refundable Income Tax Credit for Firearm Safety Devices